SHENYANG, China (Nov. 23, 2010)—Michelin has begun construction of its new car and truck tire plant in Shenyang, a $1.46 billion project that will focus on high-performance radial car tires.
The investment is roughly 50-percent higher than that Michelin disclosed when it announced the project in January.
Once at full capacity, in 2014, the plant will employ 1,500 and have annual capacity for 10 million car tires, 1.8 million truck tires and 295,000 retreads.
Michelin said the tires produced there will be lower weight and therefore consume less raw materials than previous tires.
The plant will be Michelin's third in China and will double the company's capacity there. Employment is expected to be about 1,500, according to local news reports.